Indiana’s cost of living ranks lower than the national average, making our state one of the most affordable places to live in the country. Yet, many Hoosiers continue to grapple with high housing prices and shortages due to rising inflation and home market values.
In a recent release to his constituents Senator Mike Bohacek said, “This is why I was proud to support the following measures to help Hoosiers find and keep their homes.”
Bohacek said, “Following major tax cuts, taxpayers are projected to save $109 million in property-tax relief and more than $100 million in income-tax relief in 2024 alone.”
The second measure is a new law that expands property-tax deduction and property-tax credit eligibility for senior-citizen homeowners, so an estimated 9,000 more seniors can be eligible for Indiana’s existing over-65 homestead deduction and credit.
Bohacek said, “Lawmakers created the State and Local Tax Review Task Force to study Indiana’s tax system, including income and property taxes,and consider measures that will keep more money in taxpayers’ pockets in the years to come.”
The new 2024-25 state budget allocates $5 million for homelessness prevention grants to help those struggling to keep their homesand $75 million for the Residential Housing Infrastructure Assistance Programto spur housing development in Indiana communities.
Senator Bohacek closed his release by saying, “Hoosiers should never live without a roof over their head. As your state senator, I will continue to support measures that help Hoosier families own and maintain healthy homes.”